SCOTTISH Rugby published its annual report for 2021-22, but has opted not to include finalised accounts in the document, citing the complexities of some of its financial arrangements.
Instead, the report contains what are called “summary unaudited financial statements”. Full audited accounts are expected later in the year and will be presented later in the year to a second part of the agm. The first part of the agm will take place a week on Saturday and will be primarily concerned with the election of office-bearers.
In a summary of the report, a Scottish Rugby press release said that financial activity had returned “close to pre-pandemic levels”. Investment in the Six Nations Championship and the URC by private equity firm CVC has also helped the balance sheet.
A total of £20million worth of funding from the Scottish Government - a grant of £15m and the rest as a loan - was received in the financial year to 31 May 2021. £6.5m has been “earmarked to help community clubs” according to the report, with the rest helping Murrayfield maintain its structure and keep people in work.
In general, Scottish Rugby is confident that its core business “has weathered Covid extremely well”. Three of the four Autumn Tests and both of the home Six Nations games were sold out, reflecting a desire to watch live rugby again following the pandemic period in which games were played behind closed doors.
On the pitch, the most notable success last season was the qualification by Scotland Women for this year’s Rugby World Cup. That contrasts, however, with a whitewash both for the women’s team and the under-20s in their respective Six Nations. Scotland Men won two of their five fixtures in the Championship.
Edinburgh enjoyed a significant improvement in form during their first year under head coach Mike Blair in their purpose-built DAM Health Stadium. However, Glasgow Warriors lost direction badly and ended the season by dispensing with the services of head coach Danny Wilson.
